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CENVAT CREDIT AVAILED ON ASSEST SALE BY OUR CUSTOMER, Central Excise

Issue Id: - 106112
Dated: 20-9-2013
By:- SURYAKANT MITHBAVKAR

CENVAT CREDIT AVAILED ON ASSEST SALE BY OUR CUSTOMER


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we are manufacture  of Machinery. We had sold one machine to  our customer in year 2011. Now customer intend to sale the same machine to us as assest sale after reversing excise duty which he had availed credit earlier with basic amount (after deducting depreciation).

In our case can we take the same machine as input and avail cenvat credit for the same or we have to show  sales return and avail cenvat credit .

 

Please advice.

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Showing Replies 1 to 2 of 2 Records

Page: 1


1 Dated: 20-9-2013
By:- Naveed S

You have not specified the further use of such machinery at your end.

However, If the said machine is to be used in your factory premises, then receive it as an input and avail cenvat credit.

If it is required to be re-sold again to another customer, then show it as sales return and avail cenvat credit.

 


2 Dated: 23-9-2013
By:- SURYAKANT MITHBAVKAR

 If  the said machine we take as input &  dismantle the parts &  use the parts in various machinery wherever

suitable and some parts  cleared as scarp.

 In this procedure  we do not have any co- relation regarding clearance of machine parts of the said    

machine.

Whereas the Law says if  we take credit on  Finished Goods which is return by our customer it is importance

to show clearance of the same with payment of Excise duty either equal to credit or more than credit avail. 

Still can we avail credit in the above matter.

Pl. advice. 

 


Page: 1

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